Coveo White Paper
Improving Employee
Efficiency with a 360-degree
View of Information
April 2009

Improving Employee Efficiency
Table of Contents
with 360-degree View of Information
Table of Contents
Executive Summary 3
Leveraging Information 4
Efficiency and Effectiveness 4
Customer Relationship Management 5
Respond to Customer Needs 6
Enable Better Cross-selling 6
Retain Customer Data 7
Project Management 8
Product Management 8
Services 9
Questions to Ask a Solution Provider 9
Why Coveo 10
References 11
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Improving Employee Efficiency
Executive Summary
with 360-degree View of Information
Executive Summary
Within an organization, each employee requires the most comprehensive and
current information in order to make sound decisions, and be both efficient and
effective. A lack thereof leads to poor or uninformed decisions, and processes
that are sub-optimal or defective. Enterprise Search solutions provide companies
with a complete, 360-degree view of internal information. In doing so, employees
are more effective in terms of leveraging internal information needed for customer
relationship management, sales, project management and process management.
This enables higher quality decision making while reducing process defects and
shortening time-to-productivity.
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Improving Employee Efficiency
Leveraging Information
with 360-degree View of Information
Leveraging Information
In today’s workplace, the volume of data that companies create and store
is growing at an unbelievably rapid pace. Without the right tools to locate
and leverage this information, individual employees are forced to spend
more work hours searching for information and in some cases end up
using inaccurate data.
As companies pay for the work hours spent creating information, data
repositories and their contents should be regarded as assets that they
have been invested in to build. By not giving people access to information,
companies are not maximizing the return on this asset and face unnecessary
expenditures as research time is forced to increase.
According to the results of a study by Info-Tech Research Group, Each employee spends
each employee spends 20 minutes per day recreating information
20 minutes per day recreating
that already exists.1 Given that the average employee works 22 days
per month, or 264 days per year, these minutes add up to 88 hours, or information that already exists.
21 work days. For an employee with a salary of $50,000, this adds up For an employee with a salary
to $4,000 per year. An Enterprise Search solution provides an instant of $50,000, this adds up
return on investment as employees are given a 360-degree view of
to $4,000 per year.
information, where they can easily verify if information already exists
and save this time.
Efficiency and Effectiveness
For today’s workforce, both the urgency and difficulty to locate information are
increasing. With companies storing information in multiple data silos, employees
need more time to search for the information or documents they need. With the
bombardment of information on the individual each day, it becomes difficult to
locate the required data, let alone remember the file type, the key data points
of the information and who sent it. Furthermore, as multiple people will update
documents, it becomes difficult for the employee to be certain they are
referencing the most recent version.
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Improving Employee Efficiency Customer Relationship
with 360-degree View of Information Management
In a 2008 Gartner survey (Fig.1), Distribution Number of
of Search Hours Per Week, the results hours spent
searching
showed that employees who work in front of
a computer spend an average of 4.9 hours More than 20 8
per week searching for information, with 10.01 to 20 33
more than 10% of respondents spending 5.01 to 10 75
in excess of 10 hours.2 2.01 to 5 126
1.01 to 2 73
By using an Enterprise Search solution,
0 to 1 85
employees can significantly reduce the
0 47
amount of time they spend searching as
they are given a single point of access to
quickly search through all data repositories 0 20 40 60 80 100 120 140
and accurately locate the documents Number of survey respondants
they need, increasing their efficiency Fig.1: Amount of hours spent searching per week.
and effectiveness. Without rapid access
to precise information, employees can
only reach expectations that range from low to average. By having a true
360-degree view of the information, employees can better perform and set By increasing employees’
higher quality standards while being able to drive better results. efficiency and effectiveness,
companies realize a higher
By increasing employees’ efficiency and effectiveness, companies realize
return on human capital,
a higher return on human capital, where each employee is able to achieve
more work in a set period of time. It also reduces overhead, as the self- where each employee is able
service tool cuts down the amount of support staff required by companies, to achieve more work in
and diminishes the ramp-up time for new employees by enabling them to a set period of time.
quickly find the answers to any questions they may have.
Customer Relationship Management
In both the short and long-term, a 360-degree view of information is vital for employees
to make sound decisions regarding their products and services, uncover revenue
opportunities, increase customer satisfaction and reduce churn.
A lack of understanding customer and prospect needs can be disastrous. In business,
companies must leverage customer information to look for new ways that their product
or service can be of benefit and gain acceptance across the customer base. General
Motors is an example of a company who failed to do so and paid a hefty price. According
to Harvard Business School professor John Quelch, the number one reason why the
automaker failed as a marketer was because they put their focus on products instead
of customers.3
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Improving Employee Efficiency Customer Relationship
with 360-degree View of Information Management
Customer and partner feedback can be captured in many places. In the case of
an automaker, this can be received from customer communications, feedback
from dealerships, as well as information compiled by the company’s research and
development team. In doing so, they can spot trends and make the best quality products
based on features that people desire. By not having the capacity to manage and search
through customer feedback, it is impossible for an employee to analyze the likes and
dislikes of the people who have purchased their products. However, with the ability to
intelligently search across the customer feedback they receive, they can render a solid
analysis based on their findings instead of assuming to know what people want.
Respond to Customer Needs
From a sales perspective, calls based on incomplete information are unlikely
As customer information is
to result in the kind of value-added interaction that the sales representative
wants to convey or that the prospect wants to hear. In order to better rarely stored in a single place,
respond to customer needs, representatives must be well-prepared and having rapid access to the
able to conduct comprehensive research from a variety of data sources to critical information located
be informed about their prospect’s buying history, most recent service calls,
across the organization’s
current requirements and business priorities.
knowledge base is critical.
For example, if a customer makes a harsh complaint regarding a product
or service you provided, failure to know about the situation and address it
properly in the next sales call could be disastrous for the business relationship, as it
would appear that the client’s concerns were being dismissed. Account managers need
to easily search through all communications with a customer prior to a sales call to be
well-informed of their needs and respond to any of their concerns.
As customer information is rarely stored in a single place, having rapid access to the
critical information located across the organization’s knowledge base is critical. Account
managers want to access current and relevant data in just a few clicks, from repositories
such as:
4 Email: From either a personal computer or a mobile device, sales staff can search
for precise information on an account and retrieve all email attachments, tasks and
calendar invites, archived or not, related to each account.
4 CRM: Account owners can utilize Enterprise Search to rapidly sort through
all information contained in the corporate CRM, including contacts, accounts,
opportunities or cases.
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Improving Employee Efficiency Customer Relationship
with 360-degree View of Information Management
Enable Better Cross-selling
In today’s competitive marketplace, it is important to not just sell one item to each
person, but to have each customer make multiple purchases. Working with a clear and
comprehensive understanding of their customers and prospects, account managers are
able to create cross-selling opportunities.
A good example of this is Amazon.com. When a purchase is being made, their system
performs a quick analysis of the customer’s order and makes recommendations on
other items that might be of interest, based on similar purchases by other customers.
Using this cross-selling technique, they are able to instantly create additional revenue by
increasing the size of individual purchases. In fact, estimates in the month following the
implementation of Amazon’s recommendation software suggest that profits rose 300 per
cent compared to the previous year.4 Today, 35% of their sales come via cross-selling.5
Retain Customer Data
When sales staff turns over, losses are incurred due to valuable information
about customers and prospects leaving as the experienced sales people By increasing the productivity
walk out the door. If a territory worth $1 million per year in revenues is of new account managers
vacant for six weeks while a new account manager is hired and trained, the by just 5% over these first five
company is missing out on over $100,000 of potential revenue. On top of
months, an enterprise search
that, a company must calculate the potential loss in customer revenue while
sales staff are brought up to speed and fully productive, which can take up solution can save tens of
to 20 weeks.6 By increasing the productivity of new account managers by thousands of dollars.
just 5% over these first five months, an enterprise search solution can save
tens of thousands of dollars.
With an enterprise search solution, the potential losses in revenue are decreased as
rapid access to complete information increases their ramp-up time. Once employee data
is properly archived, email accounts of outgoing staff can be accessed, which helps new
account managers educate themselves about their customer base in a more efficient
manner. With a 360-degree view of the data, the person inheriting the account is given
access to the complete information they need, which makes it easier for them to close
newly assigned deals. This also prevents the need to be re-educated by the client or
prospect, which can lead to strained relations.
Furthermore, with the data quickly available on the account manager’s laptop or
smartphone, not only can they learn in-depth information about the relationship with
the client, it can also be accessed literally minutes before meeting a client, to keep data
points fresh in their head.
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Improving Employee Efficiency Project and Product
with 360-degree View of Information Management
Project Management
The outcome of a project is largely based on the way it is managed, with a well-managed
project likely to achieve its set objectives and finish on time and within budget.
When heading a project, time is needed to access the most relevant
42% of employees say
information from the data scattered across documents and leverage the
knowledge of internal staff. For a project manager, locating the proper they accidentally use
information is often one of most difficult parts of the job. In a 2007 Accenture the wrong information
survey, 42% of respondents said they accidentally use the wrong information at least once per week.
at least once per week.7 Without a 360-degree view of data, the required
information becomes increasingly difficult to find and can result in projects
facing delays, and therefore elevated costs. This is further compounded when
information that may already exist needs to be re-created in order to execute
the work and achieve objectives.
With immediate access to complete information, project managers are able to spend less
time gathering information and more time focusing on the direction of the operation. They
can therefore achieve better results and shorter project lifecycles. It also allows for better
collaboration as individual knowledge workers are able to access and use the same
information to carry out their work.
Product Management
In today’s competitive marketplace, where time is of the essence, companies
Poor quality costs companies
often struggle with product snags that can result in launch dates being
pushed back, or even worse, having to enforce a product recall. In his book millions of dollars each year,
Success through Quality, author Timothy J. Clark estimated that the cost and its reduction can transform
of poor quality (COPQ) for the average company equals approximately marginally successful
20 percent of annual sales.8 Furthermore, independent studies reveal that
companies into profitable ones.
COPQ costs companies millions of dollars each year, and its reduction can
transform marginally successful companies into profitable ones.9
Having a 360-degree view of company information is vital when designing a product,
as it allows for the employees involved to access previous designs and determine
which aspects were the best, and which should be withdrawn from the new production.
In analyzing this data, engineers are able to produce the highest quality product while
helping their companies save money by eliminating product defects, which require
further work hours to resolve, and can cause delays in having a product go to market.
Furthermore, the elimination of product defects protects the integrity of the brand.
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Improving Employee Efficiency Services
with 360-degree View of Information Questions to Ask a
Solution Provider
Access to complete information also allows companies to set a manufacturing process
in place. By analyzing the documentation of previous processes, companies can use
information to determine what worked in previous processes and what didn’t, and
decipher the best way to manufacture the product in the shortest amount of time while
maintaining the highest quality.
Services
When delivering a service, poor processes can diminish the quality of work
and expand the timeframe in which it is accomplished. This is not only Whether it relates to accounting
costly to the company as resources are being mismanaged, but it can also or manufacturing, a lack of
cause frustration for customers. While the processes for rendering services process results in diminished
aren’t always easy to develop, they are vital to maximize each employee’s
quality and inefficiency, which
productivity and quality of work. With a complete view of information,
managers can evaluate how previous services were rendered, determine ultimately leads to increased
what the best practices are and standardize how tasks are undertaken expenditures for the company.
by employees. As a result, work is accomplished in a more efficient and
effective manner, which makes the company more competitive.
Questions to Ask a Solution Provider
When speaking with a solution provider, it is important to understand their product,
capabilities and how they can meet your needs. The following are questions you may
want to ask when conducting your research.
4 How long does it take to train employees on the solution?
4 What is the ramp up time associated with a solution?
4 How flexible is the solution?
Can it be customized to meet your particular needs?
Is it available as a mobile solution?
4 Is a proof of concept rapidly provided to minimize risk and meet
a high level of assurance?
4 What is the amount of time required to deploy the solution?
4 What kind of hardware is required to implement the solution?
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Improving Employee Efficiency
Why Coveo
with 360-degree View of Information
4 Is the selected company easy is to do business with?
Can they adapt to your needs?
Are they responsive?
4 Is your supplier providing you the means to calculate the total cost of ownership?
4 Are you confident that the provider can deliver the solution within the timeline
required, while taking into consideration the cost limitations and specific constraints
of your company?
Why Coveo
Coveo has created a new paradigm in Enterprise Search by delivering the unique
combination of enterprise-grade scalability, connectivity and security. Coveo’s
award-winning solutions and first-rate professional services empower managers
to drive higher business results. Coveo offers a better user experience that is
both faster and cheaper to deploy than any other enterprise search solution on
the market, and offers proof-of-concept through a risk-free trial.
Designed by veterans in the search industry, Coveo’s Enterprise Search solution
provides instant access, from anywhere, to valuable information by indexing all
relevant material found on intranets, e-mail servers and archives, customer relationship
management (CRM), enterprise-wide systems, databases, web content and multimedia
voice content. With a secure unified interface so companies can manage information
access privileges, their Enterprise Search solutions offer a simplified deployment
process which makes it easier to use, allowing you to do more with less and
receive superior results.
From Smartphones From Workstations Enterprise Wide
My Emails | Intranet | CRM | People | Files
Advanced Search | Preferences | Help
Secure Unified Search Search
Email Intranet CRM People And More...
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Improving Employee Efficiency
References
with 360-degree View of Information
References
1
ROI Guide for Document Management, Info-Tech Research Group, www.infotech.com,
October 2008.
2
Whit Andrews, Toolkit: Calculator for Valuing Search in Your Enterprise, Gartner,
October 2008.
3
John Quelch, How General Motors Violated Your Trust, Harvard Business Publishing,
December 2008.
4
Edwin Colyer, A key technology for online profitability, Financial Times, April 2002.
5
Matt Marshall, Aggregate Knowledge raises $5M from Kleiner, on a roll, VentureBeat,
December 2006.
6
William G. Bliss, Cost of Employee Turnover, The Small Business Advisor.
7
Managers Say the Majority of Information Obtained for Their Work Is Useless,
Accenture Survey Finds, Accenture, 2007.
8
Timothy J. Clark, Success through Quality, ASQ Quality Process, 1st edition, 1998.
9
Shellye Archambeau, What is Your Company’s Cost of Poor Quality?, Quality Digest,
August 2004.
Copyright © 2009 Coveo. All Rights Reserved.
US Headquarters: 945 Lakeview Parkway, Vernon Hills, IL 60061
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